The finality of asset sales in bankruptcy is an indispensable feature of U.S. bankruptcy law designed to maximize the value of a bankruptcy estate as expeditiously as possible for the.
Asset purchasers that have actual or constructive knowledge of a competing interest yet fail to alert the bankruptcy court may be subjecting them to claims by competing interest holders.
Property bankruptcy, right of first refusal- Where defendant had right of first refusal in property, and property was sold in bankruptcy proceeding without notice to defendant, buyer of property, who had access to title report, did not purchase parcel in good faith.The 7th U.S. Circuit Court of.